INVESTMENT FUND FINANCING APPLICATION

Transcription

1 INVESTMENT FUND FINANCING APPLICATION Head Office: 200 Anemki Place Fort William First Nation Thunder Bay, ON P7J 1L6 Thunder Bay: 106 Centennial Square, 2 nd Floor Thunder Bay, ON P7E 1H3 Toll Free Phone Fax CFDC Investment Fund Sponsored By: Timmins: 251 Third Street, Suite 9 Timmins, ONT P4N 1E2 Toll Free Phone Fax

2 FINANCING APPLICATION CHECKLIST 1. Answer all questions to the best of your ability. Contact our office to request assistance from business support staff if required; Have you attached all required documents? Annual financial statements for the past three fiscal years and most recent interim financial statement, if an existing business or acquisition; If the business is to be located on reserve, attach a copy of the Community Strategic Plan or correspondence from the First Nation supporting the business (a draft BCR is available if required); Personal financial statement completed for each borrower/applicant and spouse; and, Copy of Status/Métis Card, Driver s Licence or other identification for each borrower/applicant and, if applicable, each spouse 3. Have all applicants and spouses/partners signed the: Declaration of Applicant on page 7 FEEDBACK 1. How did you hear about NADF: Radio - Indicate station: Other Organization (municipality/band office, etc.) Name: Current/Past Client Website Word of Mouth Print Ad/Newspaper - Indicate where: 2. Do you have any suggestions on how we can better serve our clients or make the loan application simpler? 3. Are there particular services or assistance you would like to be able to access through our office? NADF FINANCING APPLICATION Page 1 of 8

3 LONG FORM FINANCING APPLICATION 1. IDENTIFICATION Applicant/Borrower s #1 information Legal Name: SIN Date of Birth: Driver s License # YYYY/DD/MM If Status Indian: Band name Band number Mailing Address: Prior Address (if at current address less than 2 years): Residence telephone: Work telephone: Cell: Fax number: address: # Dependents Personal and Professional References (minimum 2 of each) Applicant/Borrower #1 s spouse s information (If applicable) Legal Name: SIN Date of Birth: Applicant/Borrower #2 s Information (If applicable) (If more than 2 applicants please attach a separate sheet with each additional applicant/borrower and spouse information) Legal Name: SIN Date of Birth: Driver s License # YYYY/DD/MM YYYY/DD/MM If Status Indian: Band name Band number Mailing Address: Prior Address (if at current address less than 2 years): Residence telephone: Work telephone: Cell: Fax number: address: # Dependents Personal and Professional References (minimum 2 of each) NADF FINANCING APPLICATION Page 2 of 8

4 Applicant/Borrower #2 Information- Personal and Professional References Continued Applicant/Borrower #2 s spouse s information (If applicable) Legal Name: SIN Date of Birth: Personal Financial Statement YYYY/DD/MM Please complete a separate personal financial statement (copy attached) for each applicant and, if applicable, each applicant s spouse. Education (Secondary/ Post-Secondary) and Experience Applicant #1 Employer s Name Position Worked From/To Institute/School Name Course/Certificate/Diploma Year Received Applicant #2 (if applicable) Employer s Name Position Worked From/To Institute/School Name Course/Certificate/Diploma Year Received If your education and experience is limited, will you have a mentor/coach who will assist you? If yes, provide details of that person s experience and contact information (attach a resume or further explanation if needed) 2. PROJECT INFORMATION New business startup Expansion Acquisition For expansion, attach the 3 most recent annual financial statements and most recent interim financials; For acquisition, attach the 3 most recent annual financial statements and valuation of business. NADF FINANCING APPLICATION Page 3 of 8

5 Ownership and Equity Contribution (cash investment) Name % Owned Cash Invested Describe the Market / Competition / Viability related to your project (If more space is needed attach additional details and any market research, studies or other applicable information) Estimated Project Costs and Financing Estimated Project Costs $ Estimated Project Financing $ Capital Minimum applicant cash equity Land 10% regular requirement Building Could be higher for some businesses Equipment Youth applications could include inkind Inventory Aboriginal Business Canada assistance Other (specify) Operating Insurance Utilities Other (specify) Other government assistance (please list) Commercial financing Marketing Business Support Other (specify) Other financing Total estimated project Costs Total estimated project financing Contact Information for Sources of Financing (attach additional contacts if necessary) Aboriginal Business Canada: Name Phone Number: address: Company /Bank/Government : Name Phone Number: address: Business Registration No Yes Business registration # Corporation: No Yes Incorporation # Legal Name NADF FINANCING APPLICATION Page 4 of 8

6 3. DECLARATION OF APPLICANT I/We certify that all the information given by me/us in this application and attachments is true and accurate to my/our knowledge. I/We verify receipt of the attached Criteria for NADF Loans and Fee Structure effective September 1, 2001 and agree to be bound by the terms and conditions contained therein. I/We authorize the duly appointed representatives of Nishnawbe Aski Development Fund to obtain information from and share with persons or organizations, public or private, any information necessary, including credit information about me from Employers, Band, Credit Bureau, or any person in connection with my dealings, to complete assessment of this request for financing. I/We authorize the duly appointed representatives of Nishnawbe Aski Development Fund to share my (our) name, phone number, business registration number, and address with third party service providers (who are required to safeguard the handling of this information under the Personal Information Protection and Electronic Documents Act (PIPEDA) and/or the Privacy Act) for statistical, research and evaluation purposes for programs funded by FedNor, Indian and Northern Affairs of Canada or other government departments. Signature of Applicant/Borrower #1 Date Signature of Applicant/Borrower #1 - Spouse Date Signature of Applicant/Borrower #2 Date Signature of Applicant/Borrower #2 - Spouse Date NADF FINANCING APPLICATION Page 5 of 8

7 106 Centennial Square, 2 nd Floor Thunder Bay, ON P7E 1H3 Phone: Facsimile: FEE STRUCTURE (effective September 1, 2001) Non-Sufficient Funds (Returned Cheque/Pre-authorized Debit) Fee - $20 Loan Application Fees - Youth - $100 - Regular - $150 Loan Administration Fees 2.5% of approved loan Annual Renewal Fees - Youth - $100 - Regular - $250 Monitoring Fees Risk rated loans - $75/month for a minimum of 12 months, reviewed annually Default Loan Fees - Youth - $250 - Regular - $500 Default Loan Monitoring - $150/month commencing 30 days after default and applied monthly until out of default Default Loan Interest Premium 6% over base rate, commencing 30 days after default and applied monthly until out of default NADF FINANCING APPLICATION Page 6 of 8

8 CRITERIA FOR LOANS NISHNAWBE ASKI DEVELOPMENT FUND BUSINESS LOANS (Regular and Youth) 1. Applications shall be submitted with an application fee: $100 for Youth (35 and under) and $150 for Regular (36 and over) (Partnerships are to be charged the higher applicable fee: e.g. two youth $100; one youth and one regular $150). 2. The applicant shall be Aboriginal: Status (Nishnawbe Aski Nation, Treaty 3, Robinson-Superior/Treaty 1850), Non-Status or Métis. 3. Any loan or the aggregate amount of loans made to any one entity or related entities shall not exceed the limits established by the Fund. 4. The Applicant shall supply all the financial, business and personal information required to assess the application. If an application is accepted for consideration, NADF may request a business plan and other information in order to assess the financing request. If financing is approved, any changes to the business plan shall first receive the written approval of a NADF representative. 5. Loans shall bear interest at a percentage determined by NADF through assessment of the project s risk and calculated by the compound interest method. 6. Loans shall be open and may be repaid at any time in whole or in part without any notice or penalty. 7. Repayment of loans shall be made by pre-authorized payment from the Borrower(s)'s bank account unless another method is prior approved by the NADF in writing. 8. Security to be given by the Borrower(s) to the NADF shall include but not be restricted to mortgage, chattels, equipment and vehicles; General Security Agreement registered through the Personal Property Security Act; a personal guarantee of the borrower(s) if the business is incorporated; a Band Council Resolution for access to the First Nation if the business is on-reserve or within traditional territory; and, a Band Council Resolution guarantee if the business is First Nation-owned. 9. The borrower shall insure all assets pledged or secured and shall have the NADF recorded as Loss Payable in policies of insurance subject to the term of the Standard Mortgage Clause of the Insurance Bureau of Canada. 10. The borrower shall pay an administration fee (separate from the application fee). This fee is usually added to the approved loan but could be paid in advance. The administration fee payable on loans shall be 2.5 percent of the amount of the loan with a minimum of $ The Borrower shall provide to the NADF financial statements of the business carried on by the Borrower on a monthly basis and after the Borrower's fiscal year end and such interim financial statements and such other financial information as the NADF requests in writing from time to time within the time period specified in such request. 12. If a loan is approved, the funds will only be disbursed after all terms and conditions of the Letter of Offer are met by the Borrower. 13. See attached Fee Structure which applies to all loans. 14. The borrower acknowledges that the loan granted herein is to be repaid in full on the terms and conditions set out herein and that no part of the principal amount loaned to the Borrower or interest accruing on it are a grant or a forgivable loan. NADF FINANCING APPLICATION Page 7 of 8

9 PERSONAL FINANCIAL STATEMENT Print Name: Contact/Phone # Bank: Transit # Account # ASSETS $ LIABILITIES $ Cash/Bank balances (confirmation required) Real Estate (attach tax assessment for each property) Equipment Vehicles Other (specify) Charge account balances Mortgages Loans outstanding Vehicles financing Other (Specify) Other investments Total Assets (A) Total Liabilities (B) NET WORTH (A)-(B) Real Estate Properties (list below if more than one property) List for each location, estimated value and outstanding balance of mortgage Equipment (list all equipment individually below) Describe each piece and provide estimated value and amount owing Vehicles (list below if more than one vehicle) List for each make, model, estimated value and amount owing Other (list the other assets owned and provide estimated value and amount owing for each) Insurance (List any life, disability, property, liability insurance you have and contact info) NADF FINANCING APPLICATION Page 8 of 8